Member Info for gordon1237

of the day.
Wont get fooled again. (The Who)
https://youtu.be/SHhrZgojY1Q
Meet the new boss - same as the old boss

Well done Conger on getting out. Great timing. Came so close to doing the same in the high 0.2's.

We can hope it is s loan. Republic have done that in the past.

A jv partner is at least 6 months away.

Roland doing his job? Not particularly well I'd say.

Good call Espen. Wad forgetting about that Tranche 3 cash.

If you find out the answer perhaps you could let us know. Lol.

Most choose to forget it.

I did ask Jasper whether he had been told it was 750k but he didn't reply.

Ssccss. The funding secured for refrac rns said they were raising £2 million for that purpose. I was assuming they would need it all.

Yes, greed won out over commonsense in my case. If it had spiked to 0.35 would have sold and waiting to see what happens next. C'est la vie.

They announced the refrac in September. Roland with all his experience must have known about the delays in securing equipment, yet mote than six months later, they have identified a supplier. Ridiculous.

Jasper. I for one appreciate your posts and calculations. Even if I dont always agree with your numbers and optimistic interpretation, I find them a very useful starting point for discussion.
I actually find the board a lot less acrimonious than at times in the past. Atb.

Fair enough Jasper. Always thought a month was a long time to report. Atb.

Unless they've changed their timing we wouldn't normally expect the quarterly report until the last working day of the following month. i. e. 29th April.

Ramping, deramping, both equally ludicrous, pointless and non effective in any meaningful sense. Imo belief in these things is little more than paranoia.

Toptuf. What gets me is how it's always everyone else who is influenced by so called deramping but they of course are above all that.

Yes Conger. I looked through all yesterday's posts and could see no evidence of any attempted deramping. Not that I think for one moment that any rational person bases their investment decisions on board comments. There is a big difference between criticism for it's own sake and a critique of others views or the current situation.

Jasper. Have you been told the refrac will only cost £750k? I ead assuming that all, or most if the £2 million they raised specifically for that purpose would be required. Atb.

Thanks for the clarification Jasper. I am sure you are aware of the meaning of contingent in this context but for others here is a definition from the Society if Petroleum Engineers.
" Contingent Resources are those quantities of petroleum which are estimated, on a given date, to be potentially recoverable from known accumulations, but which are not currently considered to be commercially recoverable."
On that basis, I would say 50% is a bit optimistic rather than conservative. Obviously not impossible, but maybe 200 to 300 bcf more likely. Only time will tell.
Your figure of $7 per barrel is a very useful yardstick, but us obviously very vulnerable to changes in expenses. That number could decrease or increase significantly.
I guess the new broker, like everyone else wont be able to value the asset until after the refrac. Atb.